Prime Minister Emphasizes on Enhancement of Indigenous Exploration and Production

Islamabad, January 22, 2018 (PPI-OT):Prime Minister Shahid Khaqan Abbasi has said that ensuring long term energy security of country necessitates enhancement of indigenous exploration and production of petroleum products. This he said during a briefing by Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) The Prime Minister said that the present government’s bold and visionary decisions have created a conducive investment environment that is attracting and encouraging local as well as foreign investors to explore business opportunities in the country.

The Prime Minister observed that despite constraints, we have made significant progress towards putting in place an environment that facilitates business community in undertaking profitable business ventures in various fields. He said that the Government would continue extending all possible support towards removing bottlenecks in consultation with the stakeholders. Earlier, upon his arrival, the Prime Minister was received by Chairman PPEPCA Lt. Gen. (Retd.) Ishfaq Nadeem Ahmad at Mari Petroleum Head Office in Islamabad.

Chairman PPEPCA gave a detailed presentation to the Prime Minister about the exploration and production activities being carried out by all E and P companies in Pakistan. The Prime Minister was apprised that 46% of energy requirement of the country is met through indigenous oil and gas production. The Chairman PPEPCA further briefed that despite downturn in global oil prices and tougher competition for risk investment the response of local E and P Companies had been very encouraging.